NAI Harcourts Metro, as the exclusive selling agents, are proud to present Units 4, 5, 7 & 8, 1 Fairywren Street, Banksia Grove for sale.
An excellent opportunity to secure a long-term leased investment with attractive returns.
The units on the first floor have been combined and leased to The Grove Church on a 5-year lease with a 5-year option. The sellers have contributed substantially towards the tenant's fit-out, including a new bathroom and kitchen, and provided a two-month rent-free period to support a smooth establishment and long-term occupancy.
The complex features 74 parking bays, ideal for a tenant operating predominantly outside of standard business hours.
The tenant is responsible for all operating expenses, including management fees. The landlord has no obligations to pay rates, levies, or taxes for this tenancy.
Located within the Grandis Centre, the property is flanked by Grow Medical Group (386 sqm medical centre), Busy Bees Childcare, and a successful dental practice, ensuring strong precinct appeal and tenant exposure. Originally intended for medical and consulting activities, the building offers versatile potential to suit a variety of long-term uses.
Investment Highlights:
• Rent: $56,610 + Outgoings + GST p.a.
• Outgoings: $34,485 + GST p.a.
• Annual Rent Reviews: 3.5%
• Market Review: 2031
• 306 sqm tenancy
• Constructed in 2021 (approx)
• Lease Commencement: Estimated 16th March 2026
• Lease Term: 5 years with a 5-year option
The commencing rent is relatively low for the area, so there is plenty of room for growth throughout the long term tenancy.
For further information please contact Dylan Croll on 0401 835 454 or Tony Romano on 0407 388 340
Added 17 October, 2024
Property ID: #L31279749
